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Top Energy Underperformers Last Week

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Energy stocks

In the week ending on April 12, integrated energy stock Petrobras (PBR) fell the most among the stocks in the energy space. The stocks are included in the following ETFs:

  • the Alerian MLP ETF (AMLP)
  • the Energy Select Sector SPDR ETF (XLE)
  • the VanEck Vectors Oil Services ETF (OIH)
  • the VanEck Vectors Oil Refiners ETF (CRAK)
  • the SPDR S&P Oil & Gas Exploration & Production ETF (XOP)

A few foreign-headquartered integrated energy companies listed in the United States, including Imperial Oil (IMO) and China Petroleum & Chemical (SNP), are also on our list.

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Other underperformers

Chesapeake Energy (CHK) and Range Resources (RRC) saw the second and fifth-highest losses among energy stocks last week. Range Resources and Chesapeake Energy operate with a production mix of 68.9% and 74% in natural gas based on recent quarterly production data. Last week, natural gas May futures closed 0.8% above the lowest closing level since February 20. The weakness in natural gas might have dragged Range Resources and Chesapeake Energy’s performance.

Chevron (CVX) had the third-highest loss among the energy stocks. On April 12, Chevron announced that it entered into a definitive agreement with Anadarko Petroleum (APC) to acquire all of Anadarko Petroleum’s outstanding shares in a stock and cash transaction valued at $33 billion or $65 per share—at a premium of 38.8% to its closing price on April 11. National Oilwell Varco (NOV) had the fourth-highest loss in the energy space.

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